HALISTER1: U.S. ECO PREVIEW: Jobless Claims, Import Prices Due in 5 Min.

U.S. ECO PREVIEW: Jobless Claims, Import Prices Due in 5 Min.

(Bloomberg) -- Initial jobless claims seen at 265k in wk ended Aug. 6 vs 269k prior wk (forecast range 260k to 275k); represents inflow of workers receiving unemployment benefits.
  • Claims below 300k for 74 consecutive wks, level economists consider consistent with improving job mkt; longest stretch below 300k since 1973
  • Import price index seen falling 0.4% in July after rising 0.2% in June (forecast range -0.7% to +0.2%); tracks changes in prices of goods produced abroad, sold domestically
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: Macy’s Jumps 10%; 2Q EPS Beats, Will Close 100 Full-Line Stores

Macy’s Jumps 10%; 2Q EPS Beats, Will Close 100 Full-Line Stores

(Bloomberg) -- Macy’s 2Q adj. EPS 54c vs est. 45c.
  • 2Q net sales $5.87b vs est. $5.76b
  • Reaffirms year forecast; explores asset sales, JVs
Statement: NSN OBQUMCMEQTXC
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
M US (Macy's Inc)

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UUID: 7947283

(2) *MACY’S TO CLOSE ABOUT 100 FULL-LINE STORES; SEES $249M CHARGE

*MACY’S TO CLOSE ABOUT 100 FULL-LINE STORES; SEES $249M CHARGE

Alerts: HALISTER, HALISTER1
Source: BN (Bloomberg News)

Tickers
M US (Macy's Inc)

People
James Sluzewski (Macy's Inc)
Jeffrey Gennette (Macy's Inc)
Matt Stautberg (Macy's Inc)
Terry Lundgren (Macy's Inc)

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UUID: 7947283

HALISTER1: Buy 5Y BTPei Breakevens vs Bundei as Cash Flows Approach: Citi

Buy 5Y BTPei Breakevens vs Bundei as Cash Flows Approach: Citi

(Bloomberg) -- Recent underperformance of BTPei21/22 real yield vs Bundei23 has taken the breakeven spread to historically attractive levels, Citigroup strategists including Aman Bansal write in client note.
  • Buy BTPei21 breakeven vs Bundei23 at -12bp, target +2bp, stop -19bp
  • Scope for reversal as BTPei cash flows approach; EU1.7b of BTPei coupons and EU9.8b of the BTPei16 redemption
  • Germany is the only EMU issuer that has not issued a new 5Y linker this year
  • Any new 5yr Boblei launch prompted by this cross-market richness might weigh on the Bundei
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Aman Bansal (Citigroup Inc)

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UUID: 7947283